The programme circular describes the features of and the terms and conditions which in general apply to the retail bonds (“retail bonds”) to be issued under the Infrastructure Bond Programme (“IB Programme”). HKSAR Government may update or supplement the programme circular. You should read the programme circular together with all updates and supplements which HKSAR Government has published. HKSAR Government will publish an issue circular to specify the terms for each series of retail bonds under the IB Programme. The issue circular for a particular series of retail bonds may vary and/or supplement the terms described in the programme circular for that series of retail bonds. In that case, the variations and/or supplements described in the relevant issue circular apply, but only to that series of retail bonds.
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